Guide on How to Open PPF Account Online
A PPF or Public Provident Fund is an excellent way for small investors to create long-term wealth by investing small amounts of money regularly. In fact, they offer great benefits as investments, which you can read here.
However, the most common question often asked is ‘how to open a PPF Account? ’ The answer is simple. You can open a PPF Account at a bank or the post office.
If you are an existing HDFC Bank customer, you can open a PPF Account online in minutes. But if you prefer the traditional way of banking, you can visit a branch as well.
What do you need to open a PPF Account?
To open a PPF Account, you will need the following documents:
- An Identity proof (Voter ID/PAN Card/ Aadhar Card)
- A proof of residence
- Passport size photographs
- Pay-in-slip (available at the bank branch/post office)
- Nomination form.
Who is eligible to open a PPF Account?
Any Indian citizen can open a PPF account. You can open one in your own name or on behalf of a minor.
How to open a PPF account offline?
Most banks offer the facility of opening PPF Accounts online. However, you can open an offline PPF Account at your nearest post office as well. Here is a step by step guide-
- Get an application form from the nearest post office or sub-post office in your area.
- Fill up the form and submit it with the required KYC documents and passport sized photograph.
- The initial deposit required to open a post office PPF account is Rs. 500 and the maximum amount allowed initially is Rs. 70,000. However, the maximum deposit allowed within a year is Rs. 1.5 Lakh.
- Once all the documents are submitted with the initial deposit, the applicant will be handed over a passbook for the PPF Account. The passbook will contain all the details such as the name of account holder, PPF Account number, branch name, etc.
How to open a PPF Account online?
If you are an HDFC customer, you can open a PPF Account online anytime, 24X7. The process is instant and paperless. Here’s a step-by-step guide:
- You must be an HDFC Bank Savings Account holder.
- You must have NetBanking / MobileBanking banking enabled for your account.
- Your ‘Aadhaar’ number should be linked to your account.
- Your mobile number which is linked to your Aadhaar should be active, to receive an OTP which is used to e-sign/ e-authorise the opening of the PPF account instantly.
The process to open a PPF Account Online.
- Sign in to HDFC Bank NetBanking.
- Under Offers Tab, click on the banner for ‘Public Provident Fund.’
- Confirm the details shown in the next screen and enter the amount you want to deposit.
- Choose if you wish to add a nominee and click submit.
- If your Aadhaar is linked to your account already, your form will be submitted, and you will receive a message that your account will be opened in one working day.
- If your Aadhaar is not linked, you must first link it, to be able to complete the process.
- Once you have opened a PPF Account online, you can transfer funds directly from your Savings Account to your PPF Account.
To open your Public Provident Fund account, click here to start.
* The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific investment advice in your own circumstances. You are recommended to obtain specific professional advice from before you take any/refrain from any action